Gender diversity at the board level has improved steadily over the years across the world but it is still a long way for equalisation in terms of female representation at the top level, says a report. According to a Bank of America Merrill Lynch (BofAML) report, a gender diverse board better represents the company and identifies with its customers, brings a diverse range of opinions and helps the company adapt to changes...

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The diversity of S&P 500 boards has been steadily improving over the last decade, as the average board currently has 22 per cent women, up from 14 per cent in 2008.

While having quadrupled since 2008, just 11 per cent of companies have at least one-third of their board seats held by women and just 1 per cent (five companies) have half or more of their board seats held by women.